Personal Taxprep Half Day Update – AC Recorded Webinar

This personal tax update is designed specifically for Personal Taxprep users to provide you with all the essential information you need in a single session.

This Personal Taxprep Update will review the various tax and form changes for 2024 T1 returns and discuss how these changes have been implemented in Personal Taxprep and discuss the latest CRA e-services.

Note that this webinar is designed for firms that use the on-premises Personal Taxprep program. 

This virtual seminar will be presented by our experienced tax seminar team. As usual, you will have plenty of opportunity to post questions or comments in the Q&A panel.

Online training is a convenient and efficient way to stay up to date in your tax knowledge.   The compact format means you will not use up your entire day

TOPICS:

Federal T1 Tax and Form Changes
We will examine various 2024 tax and form changes for the T1, including the following:

• Capital gains inclusion rate changes and transitional rules
• Changes to tax rates and limits including passenger vehicles, automobile deduction amounts and RRSP contributions
• Increases to CPP pensionable earnings and contribution amounts, including the CPP enhancement for the first and second earnings ceiling
• Limitation on expenses for short-term rentals and changes to the T776
• Changes to deductions such as CCA and Disability Supports
• Updates to Schedule 15 for the FHSA
• Increase in the Home Buyer’s Plan withdrawal limit
• Changes to tax credits
• Changes to the Alternative Minimum Tax
• Increase in the Rural Supplement for the Climate Action Incentive

Provincial Tax and Form Changes
We will highlight various provincial form and tax changes that will impact your 2024 T1 tax returns including significant changes to tax credits.  

CRA E-Services
We will review the latest changes to CRA e-services, including:

• Important dates for Efile and other electronic services
• Recent updates to CRA portals
• Transfer of individual payments online

Status of Legislation
We will provide an update on the status of various legislative proposals made in the 2024 Budget and Fall Economic Statement as well as other proposed legislation that has not yet been tabled.  

LEARNING OBJECTIVES:

• Understand the latest changes to tax legislation including draft legislative proposals 
• Learn the changes made to federal and provincial tax returns for this year
• Understand the changes to CRA services and portals so you can navigate effectively
• Identify tax issues that may impact your clients

MINIMUM REQUIREMENTS:

Attendees require an Internet connection and a phone/voice connection at the same time. Most attendees use their computer for the audio. Terms, conditions, pricing, and services subject to change.

TARGET AUDIENCE:

This webinar will be of interest to accountants and tax practitioners who use the Personal Taxprep tax software program and are seeking the latest updates on personal taxation, as they prepare for the upcoming income tax season.  

PROFESSIONAL DEVELOPMENT CREDITS (CPE HOURS):

Wolters Kluwer professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation. 

THIS WEBINAR INCLUDES:

• 30-days to review the webinar recording
• PDF version of the presentation slides
• PD Certificate for 4 hours 

PRESENTER: Maureen Vance, CPA, CA

Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now a part of Wolters Kluwer) in 1985. She completed the CICA in-depth tax course in 1991, and since 2002 has been a consultant to Wolters Kluwer on tax and compliance issues. 

Maureen researches and writes material on tax planning and compliance and presents seminars and webinars on various tax and software topics to accounting firms across Canada. She is a member of the CRA-CPA Canada Technology Working Group, a contributor to the CPA Canada Tax Risk Management Guide, a contributing author for the Wolters Kluwer publications Preparing Your Income Tax Returns, Preparing Your Trust Returns, Preparing Your Corporate Tax Returns and Preparing Your Partnership Returns and a frequent contributor to the Wolters Kluwer Canada publication Tax Topics.